Pradhan Mantri Suraksha Bima Yojana: Registration can be done in this scheme till the age of 70 years. In this premium has to be paid once in a year.
Pradhan Mantri Suraksha Bima Yojana: Many schemes are being run by the central government regarding social security. Their aim is to bring under the purview of insurance cover even those sections of the society who cannot afford to buy an insurance policy at a high premium. In the Pradhan Mantri Suraksha Bima Yojana (PMSBY), accident cover is available up to Rs 2 lakh at a very nominal premium. The specialty of this scheme is that the premium has to be paid once in a year and that too gets auto-deducted from your bank account.
PMSBY: Premium is Re 1 Monthly Expense
The annual premium of Pradhan Mantri Suraksha Bima Yojana (PMSBY) is just Rs 12. This means that you have to save only Re 1 every month. In this, the premium amount gets auto-deducted from your bank account before 31st May every year. In this cover is available from 1st June to 31st May.
PMSBY: When, how much is covered
According to the information available on the website of Department of Financial Services, Ministry of Finance, Pradhan Mantri Suraksha Bima Yojana (PMSBY) provides accident insurance of Rs 2 lakh in case of accidental death or total disability of the insured. On the other hand, in case of permanent partial disability, a cover of Rs 1 lakh is available. Indians in the age group of 18 to 70 years can register in this scheme.
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PMSBY: How to register
It is very easy to register in these schemes of the government. To register in PMSBY, you can apply by visiting any nearest bank. Apart from this, you can also take the help of a bank friend. If you want, you can also contact the insurance agent. Government insurance companies and many private insurance companies are offering these schemes in collaboration with banks. The details of this scheme can be taken by visiting www.financialservices.gov.in.
PMSBY: Highlights of the scheme
- Any person from 18 years to 70 years can take the scheme.
- This cover will end when the insured person turns 70.
- For this scheme, it is necessary to have an account in the bank.
- It is necessary to have balance in the account at the time of deduction of premium.
- In case of non-balance, the policy will automatically get canceled.
- The policy will be treated as canceled even if the bank account is closed.
